April 28, 2008
This Week: Economic Stimulus Payment Direct Deposit April 28-May 2
If you filed your 2007 income tax return and it was processed by April 15 and you elected direct deposit, expect to see a direct deposit this week. There has been new information released last Friday that people could expect to see this payment as early as Monday, April 28 and no later than Friday, May 2. Keep an eye on your bank account for that direct deposit.
I have a feeling that this stimulus payment could actually be helpful for our economy. Unless you live like a hermit, inflation has become a larger problem for most of us. Gas prices going up, food prices going up, and for those out there with fixed income it can be difficult to absorb the increased cost. Not that this stimulus payment will be spent on frivolous things, but what about the basics like gas and food?
We are planning to save part of the stimulus for our vacation this summer. The remainder will be rolled into our income and will help us make slightly larger payments in May. I think getting out of debt is the most efficient way to stimulate the economy and ease the stress of inflated costs. The fewer payments to debt I have to make, the more money I have in my pocket to handle higher costs of living. That is a winning game plan no matter what happens in the economy or the election.
Question to my readers:
Have you received your stimulus payment yet and what are you doing with it?
Comments(6)